Off with a vengance

February has taken off with a vengance. Where did January go? The months are starting to melt into one and this whirlwind that is my life is just moving at a pace that I am not sure how to slow it down. Work has been really busy, not in terms of volume but closings that used to take one hour, maybe two are taking 5, 6 or even 7 hours. It is scary seeing how many people are in serious financial trouble. Lis Pendis, foreclosures, deadbeat dads, bankruptcy, it gets more and more complicated. I have not done a feel good transaction for a while where both parties are pleased with the transactions. I have not seen the excitement of a first time home buyer, more the vultures picking the bones as someone hangs on to his or her life with every fighting breath or comes in broken and defeated. I can't imagine the pain of owning your own home and losing it. Some people never learn, case in point, one couple I met at a hard money lender - 24% interest, 6 months paid up front. They were in the process of losing their home, they refinanced with this hard money lender (basically a loan shark), the following month they refinanced with a regular bank to shake off the 24%, lock into a rate of 9 or 10% at a time when people are getting between 4 and 6% interest rates. I see them a year later. Another closing. They lose their house. Unfortunately they did not learn their lesson, cashed out the equity from their house, went on a cruise, forced to sell their house a year later. Very sad.

Americans are sold this dream, a house, a new car every two years, cable tv with a million channels, a dream vacation to exotic destinations all the while they are up to their eyeballs in debt. I am so grateful to my parents for teaching me how not to live my life in debt and to Josh who is so smart when it comes to money. He understands the power of the word no. I am more able to spend on crap we don't need whereas he will put the brakes on - no cash in hand, no spending. Thats it. If we don't have we go without, period. There have been many a time when we have struggled literally not sure how we are going to make it through the month, he stuck to his guns and took me on the ride with him. At times I wanted to cave in, he stood strong. How grateful I am today that he did. I look at these people who did not have that outlook, their homes are gone, their credit scores are in the toilet and their options are limited. Time to write the new American Dream, go back to the basics, food, shelter and transportation. Who needs a new leased car every two years? Funny world we live in, priorities so out of whack.

Hope my fellow travellers in life learn the lessons that they need to although I seriously doubt that they will. President Bush gave his state of the Union address - I see the state everyday and it concerns me.